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TCS cuts nearly all of loss in quarter

TeleCommunication Systems, of Annapolis, a wireless communication company, reported a 99 percent decrease in net loss for the quarter ended Dec. 31. TCS posted a net loss of $435,000, or 1 cent per diluted share, compared with a net loss of $55.7 million, or 95 cents, for the same period in 2013. Revenue rose to $93.3 million from $78.6 million in the prior-year quarter. “Our ’14 operating cash flow improved from $17 million in 2013 to $26 million,” TCS chairman and CEO Maurice B. Tose said in a statement. “And this is after spending about $1.3 million in the fourth quarter to right-size our cohort of software developers, and as such we no longer have employees in China. This further improves our cost and efficiency profile going into 2015.”